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Investors interested in stocks from the REIT and Equity Trust - Other sector have probably already heard of Alpine Income (PINE) and Gaming and Leisure Properties (GLPI). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Right now, Alpine Income is sporting a Zacks Rank of #2 (Buy), while Gaming and Leisure Properties has a Zacks Rank of #3 (Hold). This means that PINE's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
PINE currently has a forward P/E ratio of 11.33, while GLPI has a forward P/E of 13.94. We also note that PINE has a PEG ratio of 1.89. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. GLPI currently has a PEG ratio of 5.35.
Another notable valuation metric for PINE is its P/B ratio of 0.94. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, GLPI has a P/B of 3.18.
Based on these metrics and many more, PINE holds a Value grade of B, while GLPI has a Value grade of D.
PINE has seen stronger estimate revision activity and sports more attractive valuation metrics than GLPI, so it seems like value investors will conclude that PINE is the superior option right now.
Zacks Investment Research
WYOMISSING, Pa., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) (“GLPI” or “the Company”), announced today that it completed its previously announced $250 million acquisition, from Blue Owl Capital, of the land on which Bally’s Corporation (NYSE: BALY) (“Bally’s”) permanent Chicago Casino will be constructed. The land purchase was one component of GLPI’s broader agreement with Bally’s, announced in July.
With the completion of GLPI’s purchase of the Chicago land, the current lease in place with Blue Owl Capital will be assumed by an affiliate of GLPI and amended to reflect the negotiated annual rent of $20 million, representing an initial cash yield of 8.0%. GLPI will own substantially all of the real estate and improvements related to the Chicago casino and hotel for a total investment of $1.19 billion resulting in a blended initial cash investment yield of 8.4%. Stabilized rent coverage for the lease is expected to be in the range of 2.0x – 2.4x.
Peter Carlino, Chairman and CEO of GLPI commented, “The completion of the Chicago land purchase is a significant milestone toward the development of Bally’s Chicago, which promises to be a must-visit destination casino resort property in the heart of Chicago. Our transactions with Bally’s related to Chicago and our real estate acquisitions at Bally’s Kansas City Casino and Bally’s Shreveport Casino & Hotel will be accretive to our financial results, resulting in an 8.3% blended initial cash yield and conservative rent coverage. We are pleased to be working with the Bally’s team, the host community and various stakeholders in Chicago to deliver a world-class entertainment center in the nation’s third largest metropolitan area.”
About Gaming and Leisure Properties, Inc.GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
Forward-Looking StatementsThis press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including our expectations regarding the benefits of the transaction to our shareholders. Forward-looking statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “intends,” “may,” “will,” “should” or “anticipates” or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward-looking statements are inherently subject to risks, uncertainties and assumptions about GLPI and its subsidiaries, including risks related to the following: GLPI’s ability to successfully consummate the announced transactions with Bally’s, including the ability of the parties to satisfy the various conditions to advancing loan proceeds, including receipt of all required regulatory approvals and other approvals and consents, or other delays or impediments to completing the proposed transactions; the potential negative impact of recent high levels of inflation (which have been exacerbated by the armed conflict between Russia and Ukraine) on our tenants' operations; GLPI's ability to maintain its status as a REIT; our ability to access capital through debt and equity markets in amounts and at rates and costs acceptable to GLPI; the impact of our substantial indebtedness on our future operations; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs or to the gaming or lodging industries; and other factors described in GLPI’s Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to GLPI or persons acting on GLPI’s behalf are expressly qualified in their entirety by the cautionary statements included in this press release. GLPI undertakes no obligation to publicly update or revise any forward-looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur as presented or at all.
Contact: | |
Gaming and Leisure Properties, Inc. | Investor Relations |
Matthew Demchyk, Chief Investment Office | Joseph Jaffoni, Richard Land, James Leahy at JCIR |
610/401-2900 | 212/835-8500 |
investorinquiries@glpropinc.com | glpi@jcir.com |
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
Qifu Technology, Inc. QFIN: This credit-tech platform providerhas seen the Zacks Consensus Estimate for its current year earnings increasing 20.5% over the last 60 days.
Qifu Technology, Inc. Price and Consensus
Qifu Technology, Inc. price-consensus-chart | Qifu Technology, Inc. Quote
Alpine Income Property Trust, Inc. PINE: This real estate investment trust has seen the Zacks Consensus Estimate for its current year earnings increasing 5.1% over the last 60 days.
Alpine Income Property Trust, Inc. Price and Consensus
Alpine Income Property Trust, Inc. price-consensus-chart | Alpine Income Property Trust, Inc. Quote
AXIS Capital Holdings Limited AXS: This company which provides a broad range of specialty insurance and reinsurance solutions has seen the Zacks Consensus Estimate for its current year earnings increasing 6.7% over the last 60 days.
Axis Capital Holdings Limited Price and Consensus
Axis Capital Holdings Limited price-consensus-chart | Axis Capital Holdings Limited Quote
Canon Inc. CAJPY: This technology and imaging solutions company has seen the Zacks Consensus Estimate for its current year earnings increasing 10.6% over the last 60 days.
Canon, Inc. Price and Consensus
Canon, Inc. price-consensus-chart | Canon, Inc. Quote
Atour Lifestyle Holdings Limited ATAT: This hospitality management company has seen the Zacks Consensus Estimate for its current year earnings increasing 9.9% over the last 60 days.
Atour Lifestyle Holdings Limited Sponsored ADR Price and Consensus
Atour Lifestyle Holdings Limited Sponsored ADR price-consensus-chart | Atour Lifestyle Holdings Limited Sponsored ADR Quote
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
Here are three stocks with buy rank and strong income characteristics for investors to consider today, September 11:
AXIS Capital Holdings Limited AXS: This company which provides a broad range of specialty insurance and reinsurance solutions has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.7% the last 60 days.
Axis Capital Holdings Limited Price and Consensus
Axis Capital Holdings Limited price-consensus-chart | Axis Capital Holdings Limited Quote
This Zacks Rank #1 company has a dividend yield of 7.8%, compared with the industry average of 4.4%.
Axis Capital Holdings Limited Dividend Yield (TTM)
Axis Capital Holdings Limited dividend-yield-ttm | Axis Capital Holdings Limited Quote
Qifu Technology, Inc. QFIN: This credit-tech platform provider has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.5% the last 60 days.
Qifu Technology, Inc. Price and Consensus
Qifu Technology, Inc. price-consensus-chart | Qifu Technology, Inc. Quote
This Zacks Rank #1 company has a dividend yield of 4.6%, compared with the industry average of 0.0%.
Qifu Technology, Inc. Dividend Yield (TTM)
Qifu Technology, Inc. dividend-yield-ttm | Qifu Technology, Inc. Quote
Alpine Income Property Trust, Inc. PINE: This real estate investment trust has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.1% the last 60 days.
Alpine Income Property Trust, Inc. Price and Consensus
Alpine Income Property Trust, Inc. price-consensus-chart | Alpine Income Property Trust, Inc. Quote
This Zacks Rank #1 company has a dividend yield of 5.9%, compared with the industry average of 4.4%.
Alpine Income Property Trust, Inc. Dividend Yield (TTM)
Alpine Income Property Trust, Inc. dividend-yield-ttm | Alpine Income Property Trust, Inc. Quote
See the full list of top ranked stocks here.
Find more top income stocks with some of our great premium screens.
Zacks Investment Research
Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Alpine Income and Sabra Healthcare . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Right now, both Alpine Income and Sabra Healthcare are sporting a Zacks Rank of # 2 (Buy). This means that both companies have witnessed positive earnings estimate revisions, so investors should feel comfortable knowing that both of these stocks have an improving earnings outlook. But this is just one piece of the puzzle for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
PINE currently has a forward P/E ratio of 11.09, while SBRA has a forward P/E of 11.82. We also note that PINE has a PEG ratio of 1.85. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. SBRA currently has a PEG ratio of 2.35.
Another notable valuation metric for PINE is its P/B ratio of 0.93. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, SBRA has a P/B of 1.39.
Based on these metrics and many more, PINE holds a Value grade of B, while SBRA has a Value grade of C.
Both PINE and SBRA are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that PINE is the superior value option right now.
Zacks Investment Research
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying SNOW stock? Here’s what analysts think:
Latest Ratings for SNOW
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Cowen & Co. | Maintains | Outperform | |
Mar 2022 | Rosenblatt | Maintains | Neutral | |
Mar 2022 | Jefferies | Maintains | Hold |
View More Analyst Ratings for SNOW
View the Latest Analyst Ratings
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